The Central Bank of Nigeria has released the results of its Treasury Bills auction conducted on February 5, 2025, which has attracted over N3.1 trillion in subscriptions.
For the 91-day bills, N50 billion was offered, N42.37 billion subscribed, and N31.94 billion allotted at an 18% stop rate. In the 182-day bills, N120 billion were offered, N19.52 billion subscribed, N18.69 billion allotted at an 18.5% stop rate, and for the 364-day bills, N500 billion were offered N3.16 trillion subscribed, and N619.36 billion allotted at a 20% stop rate.
Investors continue to favor longer-tenured instruments amid inflation concerns and tight monetary conditions. The high stop rates indicate the government’s willingness to offer premium returns to attract investors. This could impact future bond yields and liquidity in Nigeria’s fixed-income market.
Additionally, the CBN’s issuance of N2.2 trillion worth of maturing Treasury Bills in Q4 2024 reflects ongoing efforts to stabilize the financial market and sustain economic stability.
